Trillium takes new $20M stake in AutoZone as analysts turn cautious
What's the deal? Trillium Asset ManagementDealroom has a profile for this one. Try Dealroom → acquired a new position in AutoZoneDealroom has a profile for this one. Try Dealroom →, buying 6,269 shares worth roughly $20,047,000 during the second quarter, according to its latest SEC disclosure. The retailer of automotive parts and accessories remains heavily institutionally owned, with hedge funds and other institutions holding 92.74% of its stock.
What's the context? Trillium was not alone. Edmond de Rothschild HoldingDealroom has a profile for this one. Try Dealroom → opened a new position in the second quarter, while smaller firms including Transamerica Financial AdvisorsDealroom has a profile for this one. Try Dealroom → and MCF AdvisorsDealroom has a profile for this one. Try Dealroom → adjusted their holdings in later quarters.
How's the stock doing? AZO opened at $2,960.32 on Friday, near its 52-week low of $2,902.20 and well below its high of $4,388.11. The company carries a market capitalisation of $48.34 billion and a price-to-earnings ratio of 20.35.
What are analysts saying? Views are split. Raymond JamesDealroom has a profile for this one. Try Dealroom → restated a "strong-buy" rating, while several firms cut their targets — Goldman SachsDealroom has a profile for this one. Try Dealroom → to $4,096, Morgan StanleyDealroom has a profile for this one. Try Dealroom → to $3,605, and Robert W. BairdDealroom has a profile for this one. Try Dealroom → to $3,600 with a "neutral" rating. The consensus is a "Moderate Buy" with an average target of $4,029.43.
Insider moves: Director Brian Hannasch bought 165 shares at $2,987.00 apiece in May, a $492,855 purchase. In August, VP Dennis W. Leriche sold 1,455 shares at $3,100.00 each, cutting his stake by 76.74%. Insiders own 2.60% of the company.
The signal: Fresh institutional buying alongside softening analyst targets points to a divided market read on AutoZone. With the stock trading near yearly lows, investors like Trillium are wagering on a recovery even as forecasts drift downward.
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Image credit: Tony Webster
